Emkay plans property trust

One property that could feature in the real estate investment trust is the RM100 million Bangunan Mustapha Kamal in Cyberjaya, says Emkay chief operating officer. THE Emkay Group of companies, which is controlled by Tan Sri Mustapha Kamal Abu Bakar, plans to set up a property trust.Mustapha is the chairman and dominant stakeholder of MK Land Holdings Bhd, a publicly-traded property developer listed on the main board of Bursa Malaysia.He holds a 48.7 per cent stake in MK Land via privately-held MKN Holdings Sdn Bhd. MKN in turn is one of Emkay's many subsidiaries.Emkay chief operating officer Peter Teh Heng Poh said that one of the properties that could feature in the real estate investment trust (REIT) is the RM100 million Bangunan Mustapha Kamal in Cyberjaya.The property is due to receive its certificate of fitness this month. Read more

(New Straits Times 5-3-2008)

S'pore REITs may merge as credit squeeze tightens

SINGAPORE: Singapore's once booming real estate investment trusts (REITs) may face a round of mergers to weed out the weak who find it increasingly tough to raise funds and refinance loans because of the global credit crisis. At least six of Singapore's 20 listed REITs are valued below what their properties are worth, as are many trusts in Japan and Australia, which means expansion is hampered by higher financing costs and investor returns are limited.Some of the trusts will face higher interest payments when they need to refinance their debts in coming months, leading to lower earnings and distribution to unitholders."I would expect consolidation to gather pace in the course of the next 6-12 months," said Tony Darwell, head of Asian equity research at Nomura. "The cost of debt has risen and it is impacting everyone, especially entities that are highly geared." Read more

(New Straits Times 5-3-2008)

UEM Land targets foreign property buyers

NUSAJAYA: UEM Land Sdn Bhd is eyeing international buyers for its high-end residential properties in Nusajaya city within the Iskandar Development Region (IDR). Managing director Wan Abdullah Wan Ibrahim said apart from Singaporeans and expatriates based in the republic, it was also targeting European and Middle Eastern buyers.He said the latter group would be courted under the Malaysia My Second Home programme due to the strong euro and petrodollar.“We will be taking part in property shows in Singapore next month and Dubai in October to promote our products in Nusajaya,” Wan Abdullah told StarBiz at the launch of East Ledang on Saturday.Read more

(The Star 5-3-2008)

Jeffrey Ng joins SunCity as exec director

PETALING JAYA: Datuk Jeffrey Ng, the immediate past president of the Real Estate and Housing Developers Association (Rehda), has joined the board of Sunway City Bhd (SunCity) as an executive director, effective Monday.Ng, 51, was managing director of Asia Pacific Land Bhd from 1994 to 2006.On his appointment, Ng said he looked forward to contribute positively to SunCity’s further achievements as a major property player in the country.“With its strong financial credentials now and its resilience in facing the market cycles in the past 20 years, it is certainly a very good company to be associated with.“Going forward, there are many exciting plans lined up for the company and I look forward to partaking in and adding value to these plans,” he said. Read more

(The Star 5-3-2008)

Penang developers hope for improvement

(The Sun 4-3-2008)

Resort Lifestyle at its best

(4-3-2008)

Oval rises in KLCC

The rising prices of superluxury condominiums in the vicinity of the Kuala Lumpur City Centre (KLCC) is one reason GuocoLand (M) Bhd is confident its latest project will be well received.Its chief executive officer Paul Poh said prices for a unit at its Oval project is on an average RM1,500psf, although neighbours are indicating they would be pegging the prices upwards of RM2,000psf.“The Oval’s prices have been fixed for now and therefore any upside in capital gains should rightfully accrue to the buyers,” he said.“For us, reputation is of utmost importance, rather than short-term gains.”However, Poh said prices could be reviewed at the time of the official launch, tentatively scheduled for June.Rising on a 2.14-acre freehold site, the 41-storey twin towers, dubbed East and West, will each have 70 units. GuocoLand purchased the property from Titan Debut Sdn Bhd, when it was 30 per cent complete, in April last year for RM404.58 million.The company has sold 30 per cent of the units so far, after a sales preview held last month.

(4-3-2008)

SunwayMas puts its shine on Petaling Jaya

(4-3-2008)

Setia Eco Gardens bring green living to Johor

(The Sun4-3-2008)

INS Bioscience to buy property

INS Bioscience Bhd (INSBIO) through its subsidiary, Easy Pha-Max Marketing Sdn Bhd (EPMM), has entered into an agreement with Flora Development Sdn Bhd to acquire a four storey shop office for RM5.45 million.The property, located in Bandar Puteri Puchong, will be used to accommodate anticipated future growth in business for EPMM, the company said in a filing to Bursa Malaysia yesterday.EPMM is principally involved in general trading, export, import of household and office equipment.“This acquisition will result in rental savings and the benefit of acquiring a readily available property will outweigh the longer time needed to construct a shop lot,” it said. - Bernama

(New Straits Times 4-3-2008)

Bountiful fish harvest seen from Lake Kenyir project

TERENGGANU Agrotech Development Corp Sdn Bhd (TADC) expects fish production at its Lake Kenyir project to surge tenfold to 2,000 tonnes a year.TADC executive director Adnan Ghazali said this is achievable as more entrepreneurs join the lake's aquaculture programme.On average, a fish cage can produce about one tonne of fish.Entrusted by the Terengganu state government to be the integrator and developer for fish farming in Lake Kenyir under the East Coast Economic Region (ECER) project, TADC is targeting about 2,000 fish cages by year-end.Adnan calculates that if an entrepreneur is responsible for 10 participants, with each participant farming 20 fish cages, then this single entrepreneur will be in charge of 200 fish cages.Over the next three years, TADC has plans for 300 people including entrepreneurs, to be involved in its Lake Kenyir aquaculture project.Through this initiative, Adnan is optimistic that TADC will be able to meet its ECER target to boost fish output up to 6,000 tonnes a year in the next three years.Adnan said a strong pull factor is the profits. Each participant can get at least a monthly income of RM700 while entrepreneurs are assured of RM1,500. Read more

(New Straits Times 4-3-2008)

Wah Seong set to get RM800mil contracts

THINGS are still looking good for Wah Seong Corp Bhd despite the recent loss of the Nord Stream contract. The group is on the verge of clinching some RM700mil to RM800mil worth of oil and gas (O&G) contracts. Deputy group managing director Giancarlo Maccagno said Wah Seong was in the midst of finalising a host of pipeline construction, manufacturing and coating contracts. “We are confident the contracts would be signed within the next two to three weeks,” he told StarBiz. The contracts that are seen to be already in the bag for Wah Seong are:
·Two pipeline construction contracts worth RM150mil and RM75mil each in Australia,
·Two pipe-coating contracts totalling RM140mil to RM150mil in Turkmenistan and Malaysia, and
·The RM400mil pipe manufacturing and coating contract for the Sabah Sarawak Gas Pipeline (Bintulu contract).
The upcoming contracts would boost the group's order book, which stands at RM1.6bil to date, to more than RM2bil. Most of the contracts would also contribute to bottom line this year.

(The Star 4-3-2008)

DutaLand moves to Bursa’s plantations sector

(The Star 4-3-2008)

Merchant Square office building for sale

(The Sun 3-3-2008)

Muhibbah Engr expects double-digit profit growth

(New Straits Times 3-3-2008)

Limited Demand for Putrajaya homes

(The Sun 3-3-2008)

Melati eyes flood mitigation works

(New Straits Times 3-3-2008)

Melati Ehsan's Yap an ardent philanthropist

(New Straits Times 3-3-2008)

The allure of Melati Ehsan

(New Straits Times 3-3-2008)

Plenitude launches Tebrau City Residences project

(New Straits Times 3-3-2008)

Piccolo sets itself apart

(The Star 3-3-2008)

Company a household name in Sabah

(The Star 3-3-2008)

More luxury bungalows planned in Kota Kinabalu

(The Star 3-3-2008)

Menara Hap Seng latest upmarket address

(The Star 3-3-2008)

Hap Seng Land to stamp mark in Peninsular Malaysia

(The Star 3-3-2008)

Regenerating Petaling Jaya

SOON to become a prominent landmark fronting Jalan Universiti, Petaling Jaya, Jaya One will be among one of the larger development in Section 13, says developer Tetap Tiara Sdn Bhd. Its executive director Charles Wong says Section 13 is expected to have among the first run of new commercial projects under the “ongoing regeneration of Petaling Jaya”. The other areas that will be undergoing various changes include SS2, Kelana Jaya, and Section 52, commonly known as PJ New Town.(There are plans to convert some of the industrial pockets into commercial title by the local authorities.)“The term 'regeneration' encompasses a host of changes. This include a change in the buildings in the area, a change in identity from industrial to commercial, for example, all of which boils down to a change in lifestyle for the people in that area,” Wong says.Wong says Section 13 comprises 200 acres and Jaya One will occupy just over 11 acres of it. The first phase is now complete and is expected to be fully tenanted by the middle of this year.

Boustead nets RM179m in Q4

DIVERSIFIED Boustead Holdings Bhd said its fourth quarter net profit rose eight per cent as better sales were offset by higher interest and tax charges. It is bullish of its performance this year, which will be driven by strong palm oil prices and better demand for its properties.Boustead also expects its banking arm, Affin Holdings Bhd, to do better this year."Property Division will continue to be a major profit contributor, with profit deriving mainly from the Mutiara Damansara and Mutiara Rini Johor projects."Affin Group is expected to produce better results for the coming year," it said in a statement to Bursa Malaysia yesterday. Read more

(New Straits Times 1-3-2008)

UEM World net profit surges 382%

PETALING JAYA: UEM World Bhd announced a record RM7bil revenue for the financial year ended Dec 31 (FY07), an increase of 46% compared with RM4.8bil in FY06. Group net profit saw 382% growth to RM939.2mil against RM194.9mil in FY06. According to a company statement, UEM World had set aggressive headline key performance indicators (KPIs) for 2007. Targeted returns for shareholders were exceeded with return on equity for the year at 41% compared with the target of 38% while revenue growth at 46% fell short of the target of 65%. In the statement, chief executive officer Datuk Ahmad Pardas Senin said: “Our 2007 performance is based on excellent contributions from most of our units and will be the platform for further improvements, going forward.” “Sustainability” was the key theme for establishing the group's KPI targets for FY08, which was a revenue growth of 13% and a return on equity of 13%. Read more

The Store’s Komtar outlet to open in July

PENANG: The Store Corp Bhd’s RM15mil supermarket and department store in Komtar is scheduled for opening in July on completion of renovations, managing director Datuk Seri Tang Yeam Soon said. The supermarket and department store, occupying 138,700 sq ft, would provide a “comfortable and pleasant shopping environment,” he said after Penang Development Corp (PDC) signed a rental agreement with The Store yesterday. Also present were Penang Chief Minister Tan Sri Dr Koh Tsu Koon and PDC general manager Datuk Rosli Jaafar. Meanwhile, Rosli said PDC had to date awarded RM15mil worth of contracts to upgrade various facilities at Komtar. “These include mechanical and engineering equipment, public utilities, common areas, safety and security. We have plans also to enhance the landscaping, roof top and access to Komtar for about RM10mil to RM15mil,” he said. Rosli said on top of its own in-house consultant, PDC had also engaged property and urban design consultants to advise on efforts to revitalise Komtar. Read more

(The Star 1-3-2008)

UEM World net profit surges 382%

PETALING JAYA: UEM World Bhd announced a record RM7bil revenue for the financial year ended Dec 31 (FY07), an increase of 46% compared with RM4.8bil in FY06. Group net profit saw 382% growth to RM939.2mil against RM194.9mil in FY06. According to a company statement, UEM World had set aggressive headline key performance indicators (KPIs) for 2007. Targeted returns for shareholders were exceeded with return on equity for the year at 41% compared with the target of 38% while revenue growth at 46% fell short of the target of 65%. In the statement, chief executive officer Datuk Ahmad Pardas Senin said: “Our 2007 performance is based on excellent contributions from most of our units and will be the platform for further improvements, going forward.” Read more

(The Star 1-3-2008)